Global Neurovascular Catheters Market - 2022-2029

Global Neurovascular Catheters Market - 2022-2029

Market Overview

Neurovascular Catheters Market size was valued at US$ YY million in 2021 and is estimated to reach US$ YY million by 2029, growing at a CAGR of 6.7% during the forecast period (2022-2029).

A neurovascular catheter is used to drain or withdraw unwanted fluid from neurovascular organs such as the brain, intracranial spaces, carotid artery, etc. It also administers medications to the neurovascular organs and diagnoses several neurovascular diseases like aneurysms, carotid artery disease, etc.

Market Dynamics

The global neurovascular catheter market is growing due to the prevalence of neurovascular disorders, R&D investments, and technological advancements.

The increasing prevalence of neurovascular disorders and technological advancements propel global market growth.

The increasing cases of neurovascular disorders like ischemic Stroke, stenosis, brain aneurysm, and other illnesses are expected to boost the market. For instance, according to WHO, 1 in 3 people are affected by a neurological disease at some point in their life. Over the past 30 years, the number of deaths due to neurological disorders has increased by almost 40%. As per the World Stroke Organization (WSO), Stroke remains the second-leading cause of death and the third-leading cause of death and disability combined. Also, globally, 70% of strokes and 87% of stroke-related deaths and disability-adjusted life years occur in low- and middle-income countries. Around 15 million people suffer from Stroke worldwide each year. Of these, 5 million die, and another 5 million are permanently disabled. Thus, the increasing number of ischemic stroke cases is driving the market.

The complications and lack of skilled professionals hinder the global neurovascular catheter market growth.

The complications associated with neurovascular catheters are expected to restrain the market. Any procedure that places a catheter inside a blood vessel carries certain risks. They include damage to the blood vessel, bleeding at the puncture site, and infection. FDA stated that it had received a small number of adverse event reports indicating patient injury, and at least one death, associated with the neurovascular guide catheters used in this manner. Also, the use of neurovascular guide catheters for thrombus removal may affect safety and performance, resulting in device failure and other serious adverse effects like perforation, vessel damage, or dissection when used in the most distal regions of the microvasculature.

Industry Analysis

The global neurovascular catheters market report will provide an in-depth analysis of the market based on various industry factors such as porter`s five forces, innovations, new product launches, pricing, epidemiological analysis, Etc.

Segment Analysis

The microcatheter segment is predicted to have a high demand during the forecast period (2022-2029).

The microcatheter segment is expected to grow rapidly over the forecast period, owing to microcatheter advancements. For instance, Covidien plc's Apollo Onyx delivery microcatheter is the first detachable tip microcatheter available in the US. The new microcatheter is designed to solve catheter retrieval's technical challenges during Onyx LES embolizations of arteriovenous brain malformations (bAVMs). Also, ASAHI CORSAIR PRO, a tapered tip microcatheter by Vascular Perspectives Ltd., has increased trackability and torque transmission giving better outcomes with a low probability of complications. Furthermore, the development of Electronically integrated microcatheters based on self-assembling polymer films connected to a microfluidic system allows to deliver of a liquid payload in a targeted manner, e.g., to fill and seal a blood vessel defect, e.g., an aneurysm. These advancements in the microcatheter segment are fueling its dominance over the global market during the forecast period (2022-2029).

Geographical Analysis

North America is predicted to command the global neurovascular catheter market.

North America dominated the global neurovascular catheter market in 2021. It is estimated to hold a significant market size over the forecast period (2022-2029) owing to the increasing cases of neurovascular disorders and maximum catheter retrievers in the market. For instance, as per CDC, in 2019, there were around 223,135 TBI-related hospitalizations and 64,362 deaths in 2020 claimed by TBI, making up 611 hospitalizations and 176 deaths daily as TBI the cause. This data from the CDC excludes the TBI treated in emergency departments, primary care, urgent care or untreated ones leaving behind many TBI patients. According to the Brain Aneurysm Foundation, around 6.5 million United States people have an unruptured brain aneurysm. Annually approximately 8 – 10 per 100,000 people rapture occurs. About 30,000 people in the United States suffer a brain aneurysm rupture each year. A brain aneurysm ruptures every 18 minutes. Furthermore, Stryker Corporation, Johnson and Johnson, Penumbra Inc. and Medtronic Plc are the United States-based key market players holding most of the market share, ensuring the dominance of North America over the global market.

Competitive Landscape

The major global neurovascular catheter market players are Stryker, Medtronic, Integer Holdings Corporation, DePuy Synthes (Johnson and Johnson), Biomerics, Zeus Industrial Products, Inc, Imperative Care Inc, and Penumbra, Inc. The key players are adopting various strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the growth of the neurovascular catheters market globally. For instance, on July 12, 2022, Medtronic announced a co-promotion agreement with CathWorks, with an acquisition plan. Also, on 01-Mar-2022, Stryker acquired Vocera.

Medtronic, Plc.

Overview:

Medtronic plc is Ireland based American medical device company. Medtronic was founded in 1949 and is headquartered in Minneapolis, Minnesota, United States. Medtronics deals with four different businesses: the Minimally Invasive Therapies Group, the Diabetes Group, the Restorative Therapies Group, and the Cardiac and Vascular Group.

Product Portfolio:

The Medtronic, Plc product portfolio for neurovascular catheters contains Navien, Phenom, React Aspiration Catheters, Apollo Onyx delivery microcatheter, Echelon microcatheter, Etc.

The global neurovascular catheters market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.